The rise of information consumption provides a new opportunity for regions to lead supply innovation with demand upgrades and stimulate new momentum of growth. This study uses 2012-2019 provincial panel data to explore the relationship between information consumption and the efficiency of regional innovation, and introduces the level of information industry as the moderator from the perspective of matching supply with demand. This study finds out that the influence of information consumption on the efficiency of regional innovation is presented as the inverted U-shaped relationship. Meanwhile, the level of information industry moderates the relationship between information consumption and the efficiency of regional innovation. In areas with the low level of information industry, the inverted U-shaped relationship between information consumption and the efficiency of regional innovation becomes steeper. Based on these findings, this paper puts forward some suggestions on how to effectively use information consumption to stimulate domestic demand and promote regional innovation.